Customer care service program

â€Å"One satisfied customer will tell three other customers while one dissatisfied customer will go out of his/her way to tell 300 hundred other customers† this is a common saying in companies and businesses that deal with a lot of customers, the moral of the saying is that a company has a lot to lose by not ensuring that its customers are satisfied and happy at all times.Advertising We will write a custom report sample on Customer care service program specifically for you for only $16.05 $11/page Learn More The customer is king and a satisfied customer will come back begging for more therefore it is paramount that the quality of service delivered is precisely of high quality. This is therefore why companies whether big or small concentrate on satisfying customers and are coming up with innovative customer service/care techniques that leave their customers smiling and begging for more. When creating a customer care service program you should have one aim in your mind quality and satisfaction the role of staff in this process of service delivery is as important as the product itself, and in cases where the products are assumed to be of the same quality across the industry then the way staff treat and interact with customers determines who crosses the finish line in the first position (Kotler and Keller 2002). As much as all customers should be treated the same it is also vita to know it is only fair to you to ensure that the biggest accounts in your business are treated like royalty. Below are some key elements to be considered while developing a leading customer service system: 1. Identify which of your customers is the most valuable to your business then cluster or rank them according to the level of importance to your business. 2. Find out the level of service expected by the customer. This can be obtained through conversations and use of questionnaires, surveys or gathering commercial intelligence from competitors. 3. De velop a customer service standard and programme that aims to maximize customer satisfaction and build loyalty and do not forget to involve employees in this stage. Their involvement creates an obligation for them to perform their duties diligently, at the same time create a system of rewarding excellent customer service and punishing poor customer service delivery amongst employees.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More 4. Create a monitoring system that will be able to gather the opinions and felling of customers and rank them in order of importance according to the various types of services that you deliver as far as customer service is concerned. Which will assist you in making any corrections to the existing programme and standards if need arises. By understanding the concept of customer care and how customers analyze service delivery to conclude whether a service delivered i s either of good or bad quality can be very useful in your case. Below are some indicators of good customer care that you should strive to exhibit in your organization and urge your employees to ensure they adhere to: Friendliness/politeness, Responsiveness, constant communication and feedback mechanisms , acknowledging and taking notice of customers Keeping you promises by letting customers know what you can or cannot do, appreciating customers (Locker Kienzler 2010). â€Å"Customer service is the backbone of a company’s Customer Value Proposition† Paul (2007) customers have memories, they will remember you, whether you remember them or not and that a customer’s trust can be destroyed by one major service problem, or it can be undermined one day at a time with one thousand small demonstrations of incompetence. It is therefore necessary that all employees be adequately trained on how to handle customers and products. In day to day business it is a fact that the y will come across difficult customers some of whom are rude, angry, emotionally dependent, and unknowledgeable, stubborn and so on. They as employees have the duty to understand them and respond in the most appropriate way possible to bring about a win- win situation. According to Francis (2009) â€Å"great service is about attitude, and a better service leads a richer quality of life, not only commercial sector.† Therefore employees should be trained well to have enough product and people knowledge as this will also improve communication between a company and its customers. Having an open system of communication, that is inexpensive and highly responsive, such as a website or a social site, will go a long way to show that you care about your clients. â€Å"If you get everyone in the company involved in customer service, not only are they feeling the customer but they are also getting a feeling for what’s not working† Francis (2009).Advertising We will wri te a custom report sample on Customer care service program specifically for you for only $16.05 $11/page Learn More It is therefore by creating a written customer care charters that you as the entrepreneur and the workforce will be able to appreciate and dedicate all resources towards customer satisfaction. A customer care charter will create an attitude of top class service delivery and harness the participation of all organizational members which will in turn make sure that all customers fell satisfied and appreciated and employees will feel motivated to do better to meet goals creating a win- win situation. References Francis, B. (2009). Customer Relationship Management. New York, NY: Butterworth-Heinemann. Kotler, K. Keller L. (2006). Marketing Management 12 ed. New York, NY: Prentice Hall Locker, K. O. Kienzler, D. S. (2010). Business and administrative communication (9th ed.). New York, NY: McGraw-Hill/Irwin. Paul R. (2007). Customer Service: Career success Through Customer Loyalty (4th ed). New York, NY: Prentice Hall. This report on Customer care service program was written and submitted by user Lillie Quinn to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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Democracy and Dictatorship

Democracy and Dictatorship Democracy and dictatorship play a role in paths that lead to political development. While democracy in itself provides a variety of friendliness amongst the people, dictatorship, on the other hand, bestows all power of a community or a country upon a single individual.Advertising We will write a custom essay sample on Democracy and Dictatorship specifically for you for only $16.05 $11/page Learn More This creates a lot of tension and unfairness between the rulers and the ruled. As opposed to democracy, dictatorship results in an unstable economy of a country. The way Daron and James (2006) outline, there are different political paths that different political institutions take over a certain period. Amongst the paths, just a few of them result in democracy. Albert makes a clear observation that is of a lot of importance. He notices that a more established democracy results in an enormous distribution of coalitions. After these same coalitions have formed, eco nomic landscape is flooded with incompetent laws, regulation and other practices. Because of these practices, a country or a community ultimately excels little in terms of development or growth. In an attempt to understand democracy and dictatorship in length, Acemoglu and Robinson (2006) come out vividly to take us through these. According to them, determinants of democratization are substantially reduced to various levels that explain it better. The levels include economy structure and inequality that exists in a community or society. Additional levels that they discuss incorporate the degree of globalization and the kind of skills that elites bear as will be subsequently explained. Dictatorship and democracy trace their origins in the ancient of time. For instance, there are the already mentioned paths that led to their creation in different manners. Apparently, the paths make us familiarize ourselves with the difficulties in the universe owing to the fast changing real- world co mparisons, Daron and James (2006).Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a matter of fact, the paths above show some means that connect political and economic composition of a community to a political institution. Talking about the paths of political development, there exist four of them in number. They all result in different democracy through diverse means as is discussed below noticed that democracy is now never endangered. It simply tolerates all other forces that may hit it from side to side and consolidates to a stable state. This means that this first path that leads to democracy may take a little time to stabilize, but after that, it stands out effectively on its own. The second path is the one that leads to a democracy that is quickly created. It does not end at the creation but has its immediate other side that does away with the created democracy. In other w ords, the established democracy quickly crumples as Daron and James (2006) observes. Again, the collapsed democracy uses the forces that made it stand initially to stabilize. After this, once more the re-established democracy falls again and the cycle recurs. A third path of democracy is one in which a community or a country stays put in no democracy. In case democracy exists, then it is that which is totally delayed to appoint of not realizing their existence. This third path of may be divided into two nondemocratic paths. In the first place, democracy is never created because of community’s wealthy and prosperous status. This is an assurance of a stable status of the society’s political quo. It appears that this system is never challenged simply because individuals found in the society are well satisfied under the on hand political institutions, Daron and James (2006). Another situation arises still in the nondemocratic paths. As opposed to the above, this type entai ls a community that is unequal but very exploitative. The panorama of the existing democracy in this path is weak and posses a threat to elites.Advertising We will write a custom essay sample on Democracy and Dictatorship specifically for you for only $16.05 $11/page Learn More In response, the elites use any means possible to totally avoid it. For example, the elites resolve in using war and repression to put the impending threats at bay. A typical example of a country that used a similar path to this is South Africa before the fall of apartheid rule. As Jorge Heine argues, it is impractical in the absence of political participation to have political scientist. As a clear fact, political science develops with expansion of political participation. Huntington further explains this in his central proposition which identifies that political science is strong where democracy is strong, and the reverse is also true. According to him, surfacing of democracy promo tes establishment of political science. Furthermore, development of political science results in the creation and maintenance of democracy. Democracy and dictatorship have had a bit-by bit progress amongst different people of diverse classes. Dictatorship, which is also known as autocracy, is a government system in which there is an authority to control all the activities of a state or a community. This authority, however, is concentrated in the hands of one individual. Talking about progress of democracy in Britain, for example, there was a wide gap that separated the rich from the poor as Robinson and Acemoglu (2003) observed. Initially, only the rich elites were allowed to vote; whereas, the poor had many complications that hindered them from voting. For instance, illiteracy was a major bane to them that had them left out of the entire voting process as the rich in their own class took it upon themselves to vote. As was earlier mentioned, there was a path of democracy existed gra dually. This became a reality in Europe where democratic system emerged more progressively. Precisely, Britain issued I the first place uncertain reforms in 1832 that included the relatively wealthy middle class, Robinson and Acemoglu (2003).Advertising Looking for essay on political sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More As time progressed, rights to vote were broadened in 1867 and 1884, then again in 1919 when worldwide male suffrage was initiated. In addition to this, all women in Britain were finally allowed to vote in the year 1928. This is for sure a series of gradual extensions of franchise that a thee-class model analyses and the details are as below. When an alliance between the middle class and the poor pressurizes revolution disenfranchised, the rich devises a way to curb it all. The rich elites break the coalition through one sure way of lengthening permission to middle class. Presumably, this middle class is considerably richer than the poor individuals and so it is easier to persuade them against revolution, Robinson and Acemoglu (2003). Taking the Great Britain as an example, democracy traces its origins upon formation of ordinary parliaments. These were a forum for upper classes to agree about taxes while discussing policies with the king of the Great Britain as Daron and James (2006) explain. Voting became unopposed in the 18th century all though to the mid of 19th century in Britain. This means that governance by then ceased being dictatorial because efficient voting system was adapted. Future democracy of Britain was shaped through reforms that were made in the constitution after Civil War, which took place in 1642-1651. Alongside that, Glorious Revolution of 1668 resulted to a remarkable transformation in both economic and political institutions, Daron and James (2006). The changes have had significant insinuations for the future democracy of the Great Britain. Autocracy, on the other hand, also reveals it intensions. That a dictator comes to power, and lead a group of people in a society is a reality. However, when the autocrat has a short period horizon, it is always in their interest to seize the property of their subjects. It is also in their minds to abrogate any contracts that they might have signed with an intension of borrowing money from them. After getting money, they suit themselves while and neglecting the long-term economic consequences of their choices. According to Mancur (1993), dictatorship carried out within a short time horizon decreases assurance in enforcement of long-run contacts and investments. Owing to these facts, there is a remedy that should be advocated for and supported in totality. Individuals just need to secure a government that regards with respect the rights of individuals. These rights are objects of a unique set of the governmental body (Mancur, 1993). In conclusion, autocracies are appalling but successful because autocrats rely on major groups to stay in power. On the other hand, in political economy, there exists a long- standing theme which is making political leaders accountable as we make their office survival dependant on their policy performance, Masa (2007). In addition, success always follows autocrats who administer and exercise discipline for those who perform poorly. References Daron, A R James, A R 2006, Economic Origins of Dictatorship and Democracy, Cambridge University Press, USA. Daron, A R James, A R 2006, Political Origins of Dictatorship and Democracy: The Role of the Middle Class, Cambridge University Press, USA. Jorge, H 2002, Democracy, Dictatorship, and the Making of Modern Political Science: Huntington’s Thesis and Pinochet’s Chile. Web. Mancur, O 1993, Dictatorship, Democracy and Development, the American Political Science review, vol. 87, no. 3. Masa, K 2007, What Can We Learn From Successful Autocracies? Web.

Quality statistics paper Research Example | Topics and Well Written Essays - 2250 words

Quality statistics - Research Paper Example Here quality plays a significant role in ensuring the survival of companies in tough competitive businesses by inspecting the existing processes and discovering the new ones. In order to manufacture goods or offer products or services to the customers, companies employ different processes. A process is defined as a collection of interrelated and planned activities carried out to produce goods (products) and services (Oakland, 2008). There are different variations associated with each process due to number of sources and factors. Berger and Hart (1986) highllighted that variations can be inherent to the process due to its nature and are terms as common causes of variation. However, there are variations in process that result from external sources or special causes and are termed as special causes of variation. Since 1920s manufacturing has benefitted from the SPC techniques in its decision making processes (Morestream, 1920). Especially, this is true with the control charts that help to identify if a variation is really present and assist to determine if the actions need to be taken to bring the process back in statistical controls. The strength of the statistical process control techniques is its simplicity and ease in understanding equally at the management and worker level as appreciated by Thompson and Koronacki (2002). Statistical process controls allows objective investigation of the parts or whole of a process that may mask sources of variations that interfere with the level of product quality. If detected, SPC can help to numerically measure the significance of the variations and subject these to correction (Wheeler and Chamber, 2010). Consequently, the controlling of variations would reduce wastes and improve the product quality. It is crucial to understand that not all the SPC techniques are applicable to all scenarios and largely depend on type of the data and the type of the variation under investigation (Czitrom and Spagon, 1997). For example, in th is report we have analyzed the processes of providing the customer support services by an IT Call Center. In this aspect, the major quality issue was the call waiting time i.e., average waiting time during a service call. This is the time when the customer is holding on the phone line and waiting to be connected to any of the customer service representative. Introduction From the conception to design and further to manufacturing of a product, the variations introduced during initial processes become manifold towards the delivery of the product to the customer and severely impact the quality of the product. Oakland (2008) explains that there are two major types of variations in the process; common and special variations. The common variations are generally intrinsic to the process and cannot be eliminated without modifying and even eliminating the process or switching to an entirely new process. On the other hand, special causes are a result of some causes that are identifiable and a ssignable and usually appear in more periodic fashion, thus these can be identified and can be reduced/removed with eliminating the source of variation that does not involve process changes (ASQ, 1920). In an effort to identify the process variation and understand the process behavior, statistical techniques and probabilistic methods would be used for analysis. The analysis would be based on the actual

The New Product Marketing Strategy Essay Example | Topics and Well Written Essays - 3000 words

The New Product Marketing Strategy - Essay Example They are assembled from imported parts from various regions of the world. However, principal design works were done particularly at Sony’s research facilities in Japan. The brand name is not only used in Televisions but also on other products such mobile phones. Sony used Bravia as a brand name to emphasize the quality of their television products that were believed to have a high resolution in the market (Morrison & MacMillan 2007, p. 65). In 2014, the name Bravia evolved from being just a brand name of being a subsidiary of Sony. The mother company Sony Corporation is a Japanese multinational conglomerate corporation based in Japan (Tracy 2014, p. 49). The Corporation is a diversified business with a primary focus on the production of electronics (TV, gaming consoles, refrigerators). It is noted the Bravia has a wide range of television products and other such as accessories, mobile phones, Green TV Sony Bravia Internet T vans Video. Its television products have outstanding features which include: a full HD LED Display (1920 * 1080), X-Reality PRO Picture Engine, Motion flow XR 200, Smart TV with Built-in Wi-Fi, easy Wall mount solution as well as USB Recording and Playback (Morrison & MacMillan 2007, p. 87). The company recently launched a new Bravia TV, namely Android TV which has actually revolutionized the clients viewing experience. Android TV has enhanced pictures, beautiful design, and innovative control. This product has 4K Processor which enable it has stunning picture quality. It has inbuilt precision detail enhancer, precision mapping that let it brings out lifelike colors, as well as dynamic contrast enhancer. As in any business, the success of a particular business lies within the ability of the management to position itself strategically and so establish the products or services being offered (Cavinato & Flynn 2006, 78). Additionally, Arnold

Ethical Principles and Knowledge of Self Term Paper

Ethical Principles and Knowledge of Self - Term Paper Example The next part will be a discussion on values, qualities and behaviors in relation to management process, communication, team building, orientation of new staff and caring and ethics and empowerment of staff from a personal perspective. In the management process, values refer to the principles that the manager upholds and advocates. Qualities and behaviors refer to personal attributes that make a person an authentic leader in the organization. These values, behaviors and qualities in management process include being of integrity, promoting open communication, teamwork and managing organizational change of the overall group. Â  In communication, the values and principles needed include the ability to foster communication throughout the organization. In nursing management practice, individuals must demonstrate application of key values, behaviors and principles in caring and ethics and this entails being supportive, upholding the professional code of conduct and being of integrity. Â  The issue of orientation and values will be discussed. Orientation is based on the value to promote personal growth and to help the staff attain their desired levels in the professional. Other strategies of enhance the performance of nurses and empowering them is to delegate responsibilities, offer periodic retraining and carry out employee surveys. The other areas include be a person of integrity, promote individual growth and that of the overall group empowering the team and emotional and cultural intelligence.... In the management process, values refer to the principles that the manager upholds and advocates. Qualities and behaviors refer to personal attributes that make a person an authentic leader in the organization. These values, behaviors and qualities in management process include being of integrity, promoting open communication, teamwork and managing organizational change. In communication, the values and principles needed include the ability to foster communication throughout the organization. In nursing management practice, individuals must demonstrate application of key values, behaviors and principles in caring and ethics and this entails being supportive, upholding the professional code of conduct and being of integrity. The issue of orientation and values will be discussed. Orientation is based on the value to promote personal growth and to help the staff attain their desired levels in the professional. Other strategies of enhance the performance of nurses and empowering them is to delegate responsibilities, offer periodic retraining and carry out employee surveys. The paper will be concluded by a metaphor of what is the vision for best practice in nursing management. In this, ten salient areas that managers should uphold are presented and they include be a firm decision maker, fostering teamwork, ability to communicate well, ability to manage conflicts, stress and crisis. The other areas include be a person of integrity, promote individual growth and that of the overall group, empowering the team and emotional and cultural intelligence. Introduction Nurses operate in an environment having diverse workforce and patients from varying backgrounds. Effective management of the

Risk management and hedging

Risk management and hedging Risk Management And Hedging In Derivatives Market Risk management can be undertaken in several different manners, which often depends on the structure and initiatives for the specific firm. One commonly used approach is to hedge in the derivatives market, which consists of futures, forwards, swaps, CFDs, warrants, convertibles and options. Derivatives are financial instruments whose value and performance depends on the value of underlying assets, for example equities, stock market indices, exchange rates, commodities etc. The main argument for hedging is for companies to minimize risks that may arise from interest rates, exchange rates, and other market variables and volatilities. By engaging in derivatives companies manage their various risks by hedging a position, to be more certain what the outcome will be. For example, one can hedge a certain amount of currency at a future point in time, in order to know exactly how much that will be received/paid at the specific time thereby avoiding the risk of losing value because of the exchange rate risk. There are however also arguments against hedging in the derivatives market. Establishing hedging programs may be very costly, and if there are alternative and more cost efficient ways to reduce risks, such as operational and financial strategies, that could be preferable. Furthermore, sometimes hedging may lead to losses even though there is a gain on the underlying asset, which is a scenario that is difficult to explain to stakeholders. If losses appear too often, this could cause mistrust from the shareholders, and should then be avoided. One has to consider the overall trade-off between costs and savings when engaging in hedging to manage and reduce risks. It is therefore also necessary for management to undergo thorough risk assessments and to construct firm specific schedules, in order to identify the most significant risks and subsequently to establish risk preventing actions. Hedging is in addition mostly used by institutions that are extensively exposed to the various busines s and market risks, and who most of the time would benefit from undertaking such actions. However, derivatives may also be used by the private sector if necessary. The article Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry by Peter Tufanoexamines a new database that details corporate risk management activity in the North American gold mining industry. The article claims that academics know remarkably little about corporate risk management practice, even though almost three fourths of corporations have adopted at least some financial engineering techniques to control their exposures to intresest rates, foregin exchange rates, and commodity prices. There is little empirical support for the predictive power of theories that view risk management as a means to maximize shareholder value. The article furthermore describes risk management practices and tests their conformance with existing theory by analyzing an industry that seems almost tailor-made for academic investigation: the North American gold mining industry. These firms share a common and clear exposure in that their output is a globally traded, volatile commodity. Firms can manage this exposure using a rich set of instruments, including forward and futures contracts, gold swaps, gold or bullion loans, rolling forward commitments called spot deferred contracts, and options. Perhaps most importantly, firms in the gold mining industry disclose their risk management activities in great detail. The gold industry has embraced risk management: over 85 percent of the firms in the industry used at least some sort of gold price risk management in 1990-1993. Using industry-specific measures for firms exposures, cost structures, and investment programs, Tufano tests whether cross-sectional differences in risk management activity can be explained by academic theory. For example, theory predicts more extensive risk management by firms more likely to face financial distress, which in this industry can be measured by operating costs and leverage. Other theories posit that corporate risk management activities might be linked to risk aversion of corporate managers, and the form in which they hold a stake in the firm. These theories would predict that firms whose managers hold greater equity stakes as a fraction of their private wealth would be more inclined to manage gold price risk, but those whose managers hold options might be less inclined to manage gold price risk. This article tes ts the predictive (as compared with the prescriptive) power of the various theories, i.e., whether they help describe the choices made by firms. He finds that gold mining firms risk management decisions are consistent with some of the extant theory. Managerial risk aversion seems particularly relevant; the data bear out Smith and Stulzs (1985) prediction that firms whose managers own more stock options manage less gold price risk, and those whose managers have more wealth invested in common stock manage more gold price risk. These results seem robust under a variety of econometric specifications, and using a number of alternative proxy variables. In contrast, theories that explain risk management as a means to reduce the costs of financial distress, to break the firms dependence on external financing, or to reduce expected taxes are not supported strongly. He also finds that firm risk management levels appear to be higher for firms with smaller outside block holdings and lower cash balances, and whose senior financial managers have shorter job tenures. â€Å"Managing Foreign Exchange Risk with Derivatives†by Gregory W. Brown is a field study of HDG, a multinational manufacturing company of durable equipment with sales in more than 50 countries that actively encounters 24 different currency exchanges. Although multinational companies like HDG are always exposed to foreign exchange risk, this is one of very few studies that investigate the risk management operations for a non-financial corporation. Since multinational companies tend to be very complex, while using multiple strategies, a field study of this nature provides a deeper understanding of how the risk management process works. Dr. Brown attempts to answer to three main questions. First he wants to understandhowthe Forex risk management program is structured; second,whythe firm focuses on management of exchange risk; finallywhatHDG uses within their hedging derivative portfolio in order to minimize their foreign exchange risk. In order to get a comprehensive understanding Dr. Brown investigated HDG over 14 quarters starting from 1995 and ending in 1998. The structure of HDGs foreign exchange group consisted of 11 employees who were not considered â€Å"traders†, with an average experience of 4 years, whose focus was not only hedging foreign exchange risk. The program cost which included salaries and overhead was approximately $1.5M annually, and the overall transactional costs averaged around $2.3M annually. HDG had an actual foreign exchange risk policy which focused to reduce transactional, translational, and overall economic exposures. In order to meet this policy the group actively engaged in spot and forward contracts, currency put option, and currency call options. Traditional economic theories usually illustrate hedging Forex risk for benefits such as reducing taxable income, protecting against potential costs of financial distress, and reducing overall volatility of wealth. HDG however, focu sed its risk management program on smoothing out earnings impacts, providing the company with competitive pricing, and enabling improved internal control management. In some ways it seemed that HDG was attempting to use Forex risk hedging in a speculative attempt to increase potential income and thereby increase overall firm value. The procedure used in Forex risk hedging was quite simplistic. The department would not use live market feeds but rather sources such as Bloomberg to signify a â€Å"hedge rate† from current market rates and overall cost of derivatives. This information would then be passed onto the tax department and after review would be developed into a hedging strategy to forecast future hedging activity. Browns statistical studies of HDGs hedging activities concluded that the models R-squared value increased as the time horizon decreased. This indicated that the companies hedging activity was dramatically affected by its most recent hedging transactions. This may seem rather obvious but the strongest tests only indicated 55% in accuracy. In all Brown explains there is much more in the way of testing that needs to beconducted in order to better evaluate which additional factors significantly influence the Forex risk management of multinational non-financial companies. This study should be the start of a new investigation in understanding currency risk perspectives. In Risk Measurement and Hedging: With and Without Derivatives, Petersen and Thiagarajan (2000) explore the reasons for two gold mining companies to use opposite approaches in managing their risk, namely American Barrick, which aggressively hedges its gold price risk with derivatives, and Homestake Mining, which uses no derivatives. By studying two firms from the same industry, which hardly has any variation in product quality, the fundamental differences that lead to the different approaches in risk management can be examined. Homestake Mining is focused on developing its own properties and hence, spends more on exploration costs (capital and labour costs), which makes high gold prices profitable if they are not correlated with exploration costs. The greater need of investment capital Homestakes Mining has when gold prices are high makes reductions in the volatility of operating cash flow less valuable to it as a complete hedging would take cash flow away when gold prices are high, i.e. when Homestake Mining is in need of it. The different opportunities companies possess of also explain some reasons for different risk management strategies. Homestake Mining has for example lower costs of adjusting the mining output than American Barrick as the former can (over a short period) alter the quality of the ore that is mined. This mining strategy creates costs that vary positively with the price of gold and thus provides the firm with a natural hedge, which American Barrick does not possess of. As managers will act differently according to the risk they are personally bearing, compensation strategies is of upmost importance when it comes to risk management. Both the American Barrick and Homestake Mining use options to link the managerial wealth to the shareholder wealth, however, American Barrick does so more intensively. Also, its compensation is equity-focused where the bonuses are linked to the stock values, whereas Homestake Miningss bonuses are linked to the profitability, which explains why the latter adjusts its costs as gold prices change. The earnings are quite volatile, however through this can be reduced by different choices of accounting techniques, which is the reason for Homestake Mining to changes them in opposite direction to gold prices, where American Barrick rarely alters its accounting choices at all. From the above findings one may conclude that the choice of managing risks depends on various firms specific characteristics; their firm structure, management contracts and incentives. Specifically, it is a matter of the trade-off between costs and savings/benefits. Establishing and maintaining derivatives program is often quite costly, and therefore the alternative of using other methods to hedge risks may be preferable. In the article Hedging and Coordinated Risk Management: Evidence from Thrift Conversions, the writers argue that the firms risk management can be used to reallocate the firms total risk between different sources, rather than reduce it. So in this case hedging doesnt necessarily equal total risk reduction as often stated, but rather a technique of risk-reallocation or as an essential part of a firms profit-maximizing strategy. This becomes clearer if we separate risk in to two types, based on the activities where the firms have their comparative information advantages, namely: -Core business risk: Firms earn rents or economic profit for taking on activities bearing this risk. -Homogenous risk: Financial risk as interest rate changes, foreign currency exchange rates, or commodity prices. By contrast there is no compensation for bearing this kind of risk. (This doesnt necessarily apply if the firm has a comparative information advantage in the financial risk sector, then financial risk can then become core business risk. If we now consider a risky asset, it may be viewed as a portfolio of multiple claims from the owners. These claims are bundled together which basically means that the firm must take on all the projects if it wants any of them. A subset of these projects may be â€Å"core business projects† which have a positive NPV for the firm, and the remaining subset may be projects bearing homogenous risk with NPV = 0 (the firm hasnt any disadvantage/advantage compared to others in assessing the unsystematic risk). The total variability of a portfolios cash flow of course includes both risk types. An example of this could be a farmer expecting payment for breeding pigs. Then his superior equipment or animal feed preparation would be categorized as activities bearing core business risk, while the price of pork would be homogenous risk. When increase in total risk is costly, risk composition becomes more important as the firm value becomes a concave function of the expected cash flows. Therefore if the risky asset was separable (which it is not), we would only seek to invest in positive NPV projects with core business risk. However this is not the case and therefore we can instead make a trade off by decreasing homogenous risk while gaining additional exposure to core business risk and still maintain the target level of total risk. This substitution is called â€Å"coordinated risk management† and can be attained by the use of derivatives. They test for coordinated risk management in a sample of thrifts that convert from the mutual to stock form of ownership. These conversions have been used to recapitalize the thrift industry since 1982 where legal barriers were cleared. From 83 to 88, 571 conversions issuing stock totaling over $10 billion were completed, compared to only 130 mutual-to-stock conversions between 75 and 82. At the end of 82, stock saving and loans managed only 30% of the industrys assets, but by the end of 88, stock saving and loans controlled 74% of the industrys total assets, going from $686 billion to $1,4 trillion. These converting thrifts provided an interesting sample to test whether the use of hedging can be part of an overall strategy to increase total risk. They argued that converting thrifts will attempt to increase their overall level of firm risk following conversion due to changes that occur at the time of conversion. In other words, these institutions are a unique case relative to empirical studies of risk management that focuses on firms with incentives to decrease total risk. The reasons for converting institutions to increase total firm risk are likely because of these two major reasons: 1. A converting institutions ability to take risk increases at the time of conversion, even though the investment opportunities do not change. This is because conversion provides financial slack and access to capital markets. A conversion typically proceeds at least the book value of equity of the mutual thrift. Assuming that pre-conversion mutual equity meets regulatory capital requirements, doubling the capital ratio creates a larger borrowing capacity that can be used to double the asset size of the thrift. Increasing thrift size does not necessarily imply an increase of thrift risk. However, thrifts usually have incentives to grow by investing in riskier assets because of flat deposit insurance premiums that allow thrifts to shift risk to the government. 2. Converting institutions are predicted to increase the total firm risk following because of the change in their managers incentives for risk taking. Before the conversion, managers receive a fixed salary. But upon conversion, shareholders are able to include stock and stock options in a managers compensation contract, aligning the managers interest with the shareholders. In this situation, the manager will typically be more willing to take risks in order to maximize firm value. The Test Schrand and Unal has used sample data from conversions completed between January 1, 1984 and December 31, 1988. They have also made some selecting in the sample excluding the supervisory mergers and merger-conversions. Also they further exclude smaller companies by having a minimum limit of $100 million among the sample companys. As of the methodology Schrand and Unal have used a quantitative time-series study, where they have analyzed the changes in total risk, interest-rate risk and credit risk using an ordinary least squares method. The model is a form of a least squares method where they have added the term Time(t+k). The extra term is an indicator variable which is equal to one if quarter t is k quarters from the conversion quarters, and if not the term equals zero. As of the independent variables in the model, they can be seen as tests, indicating the differences between the risks of the average converting institution and the risks of the average institution in the control group. However the model doesnt indicate whether the interest risk and credit risk are coordinated. Therefore Schrand and Unal have used another model to analyze if there is an association between the interest risk and the credit risk. The model which is a pooled time-series cross-sectional regression is computed as follows: Here Schrand and Unal predict a positive slope between the interest risk (XSNET) and the credit risk (XSHIGH). The Empirical Results The study show that the converting institutions capital position increases with roughly 70 percent after the conversion. Also the study shows that the converting institutions significantly decrease their exposure to interest risk. However the Credit risk increases when converting, because of taking more risk in their loan portfolios. Further the study indicates that the investment patterns are related to the actual conversion rather than the time-trend within the industry. Also they conclude that the increased use of derivatives is a strategic decision and not a mechanical phenomenon. References Brown, G. W. (2001), â€Å"Managing foreign exchange risk with derivatives†, Journal of Financial Economics, Vol. 60, pp. 401-448. Naik, N. Y., and P. K. Yadav (2003), â€Å"Risk Management with Derivatives by Dealers and Market Quality in Government Bond Market†, The Journal of Finance, Vol. 58 (5), pp. 1873-1904. Schrand, C., and H. Unal (1998), â€Å"Hedging and Coordinated Risk Management: Evidence from Thrift Conversions†, The Journal of Finance, Vol. 53 (3), pp. 979-1013. Tufano, P. (1996), â€Å"Who Manages Risk? An Empirical Examination of Risk Management Practices in Gold Mining Industry†, The Journal of Finance, Vol. 51(4), pp. 1097-1137. Petersen, M. A., and S. R. Thiagarajan, (2000), Risk Management and Hedging: With and Without Derivatives, Financial Management, Vol. 29(4), pp. 5-30.

More Purchase Instead of Less Essay -- Human Rights

In recent years, people in Europe and America have been clearly aware that the general commodity price in their markets had dropped dramatically. A lovely Barbie doll which, In the old days, used to cost them more than ten dollars or eight euros, now, values costs less than half of the original price. But as we all know, there must be someone who would pay for such a good bargain. So what on earth is the trigger that lead to the remarkable decline? And what is the most influential factor that rewrote the numbers on hundreds of thousand of price tags? When our curiosities drive us to keep on questioning, and to trace the unusual economic phenomenon, some mysterious burgeoning factories emerge in our sights. These factories are prevalent in a world scope because of the incredibly cheap price, while, on the other hand, they are also infamous for their poor working conditions, unbelievably low salaries, threatening devices, and abusing of labors. For reasons above, those factories are c alled sweatshops. And most of the sweatshops are located in Asia, such as China, South Korea, Indonesia, Vietnam and so on. From the beginning, there were only a small group of people who paid attention to those sweatshops. But with more and more grievous news unveiled, a huge growing number of people start to keep a watchful eye on the livelihood of those workers in sweatshops. To their surprise, those poor workers were bearing that unequal contracts, that long working hours, and that potential risks of their lives everyday How could those Americans and Europeans who have been high-fed and spoiled in the last century, imagine a twelve-hour day, seven days per week, no paid holiday in the foreseeable future job with an skinny income which was only en... ...ss Studies Vol. 31, No. 3 (3rd Qtr., 2000), pp. 367-385, Palgrave Macmillan Journals. Jean-Paul Sajhau, ‘Business ethics in the textile, clothing and footwear (TCF) industries: Codes of Conduct’, ILO Bulletin, no. II-9, (June, 1997). Stephen Frenkel, ‘Globalization, athletic footwear commodity chains and employment relations in China’, Organization Studies, issue 4 (2001). Nicholas D. Kristof and Sheryl WuDunn. â€Å"Two Cheers for Sweatshops.† New York Times 24 September 2000. 5 May 2012. Doug Guthrie, Dragon in a Three-Piece Suit (Princeton, New Jersey: Princeton University Press, 1999). Pun Ngai. The China Journal No. 54 (Jul., 2005), pp. 101-113. The University of Chicago Press.

Shen Fu

Shen Fu The book Shen Fu’s Six Records of a Floating Life is both an autobiography and love story of a man named Shen Fu, who was educated toward the path to grow up to be a scholar, but he kept on failing the exams. He went on to earn his living as secretary for a magistrate and also selling off his wife’s artwork. His wife is the girl that he fell had fallen in love with as a young child. Together, they had a very weird and odd relationship (at least compared to our modern day idea of a relationship).I think that Shen Fu really wanted the big job as the magistrate, but it also seemed like he didn’t really want to work very hard for the position. Perhaps he was a tad on the lazy side of things. He grew up in a rather scholarly middle class family and he spent much of his life trying to pass the exam. The only problem was that he kept failing it over and over again, and did never actually get around to passing it. Shen Fu seemed to focus a lot of his attention on status, and I think that it was mostly due to his family and his social class that he was born into.It seems to me that the higher status you had back then, the more you focused on status and put being born of high class up on a pedestal. Shen Fu his whole life was seeking this â€Å"Floating Life† which basically means that you’re economically secure, and that life is a more of a â€Å"dream† rather than actual reality. I thought he was always seeking this because he was always trying to figure out how to make a good deal more money, or to get a desirable scholarly position. Shen Fu, in my opinion, was rather greedy and materialistic, and was generally out for himself.Although, to be fair, he did provide for his family by taking on many different kinds of jobs, loans, and even by attempting to sell his wife’s artwork. This book is actually better known being a love story. Though it is much different then what we think a love story should traditionally c onsist of. Shen Fu was known for spending a lot of time with Prostitutes, and his wife seemed ok with it, she even went and found him a concubine. Shen Fu basically viewed his wife as his equal, rather than looking down on her as a woman, this was a very rare view for a man to have considering the time and place this took story took course.Most traditional loves stories would make this story appear crazy, this is mostly because the more traditional thought of love is between two people sharing and expressing mutual feelings for each other. Love is generally not thought of as the wife going out and searching for a good Concubine for her husband to sleep with. However, I think the more romantic and warming part of the story was that Shen Fu and his wife, Yun, enjoyed reading, drinking, and writing poetry together. I actually think that they genuinely enjoyed each other’s company.Another reason why this story could be view as a bit of a romance, was because Shen Fu was really co mmitted to supporting his family by working and taking on many jobs and responsibilities. His dedication to his wife was pretty romantic in and of itself. I didn’t think that Shen Fu was a filial son because there was a lot of conflict between his family. Think that a lot of the conflict was because he went down in class and never did become a magistrate like he and his family had hoped he would.It seems like his family viewed at him as if he didn’t try hard enough and was a somewhat of a failure to them. I would consider Shen Fu in the lower to middle class, because, he never got the job as a magistrate and didn’t have enough money to adequately support his family, so he has to sell off his wife’s artwork. I would probably put him in the lower class, but the fact that he came from a middle class family and had a concubine might put him a little on the higher side of classes. I think that this story of Shen Fu’s life does indeed exemplify the typic al lifestyle during the Qing Dynasty.Shen Fu and his wife both viewed each other as equals, which back then was really different from the norm. How he focused mush of his attention on status was a really big thing during the Qing era, and how he aspired to have a floating life style. I think it also showed how that even though he had a wife, he went out drinking with prostitutes and with his Concubine, which seems like it was pretty common back then. Overall, I thought that it was actually a pretty interesting book. It definitely wasn’t what I was expecting, and It gave a good example of how life was for his class during the Qing era.

Free Essays on Persian Wars

The most destructive war for Greek history was the Peloponnesian war. This war was fought between Athens and Sparta. Sparta’s goal was to attack Attica by land, burn its houses, and lay waste to the countryside. The Spartans hoped that by doing this they would disrupt agriculture and spread fear and chaos throughout the region. After realizing that trying to defeat the Spartan army would be stupid, the adopted a plan that relied on their fleet. Pericles ordered refuge behind the long walls. Pericles hoped the Spartans would grow tired and frustrated and give up the fight. At first the plan was working. In the summer of 431, the Spartans marched into Attica and burned Athenian homes and farms. After Pericles died in 429, some Athenians joined the Spartan-led alliance. After months and years of fighting the Spartans destroyed the Athenian fleet. Finally in 404 B.C. the Athenians surrendered. After the Peloponnesian war Greek city-states were weak and financially destroyed.... Free Essays on Persian Wars Free Essays on Persian Wars The most destructive war for Greek history was the Peloponnesian war. This war was fought between Athens and Sparta. Sparta’s goal was to attack Attica by land, burn its houses, and lay waste to the countryside. The Spartans hoped that by doing this they would disrupt agriculture and spread fear and chaos throughout the region. After realizing that trying to defeat the Spartan army would be stupid, the adopted a plan that relied on their fleet. Pericles ordered refuge behind the long walls. Pericles hoped the Spartans would grow tired and frustrated and give up the fight. At first the plan was working. In the summer of 431, the Spartans marched into Attica and burned Athenian homes and farms. After Pericles died in 429, some Athenians joined the Spartan-led alliance. After months and years of fighting the Spartans destroyed the Athenian fleet. Finally in 404 B.C. the Athenians surrendered. After the Peloponnesian war Greek city-states were weak and financially destroyed....

Sir Thomas Stamford Raffles Essay Example

Sir Thomas Stamford Raffles Essay Example Sir Thomas Stamford Raffles Paper Sir Thomas Stamford Raffles Paper Sir Thomas Stamford Raffles is one of the key persons who are responsible to the founding of modern Singapore. He played an important role in forming a British Settlement, Singapore, in the Melaka straits despite facing rejections, such as Dutch or even resistance in London itself. He is a controversial person even in his time. Hence there is no doubt that there are lots of information about him and founding of Singapore in the internet. However, how do we assess these websites for its appropriateness towards scholarly research is the main objective of this essay. According to The Sheridan Libraries an appropriate source for scholarly research would have information such as â€Å"authorship, publishing body, point of view, referral to other sources, verifiability and currency† . In the case of internets sources, at least we could have an idea who is the author and a way to contact, such as telephone or email, to clarify the information provided in the internet or even arranged an interview. The first source regarding Sir Thomas Stamford Raffles and the founding of Singapore which I’m going to examine is taken from Wikipedia. Let just put aside for a moment the authorship and verifiability of the passage, and for a moment assume it is what it is. Wikipedia provides a very detailed explanation of Sir Thomas Stamford Raffles. The information in Wikipedia is like a series of events that arranged chronologically. This is by far a more interesting and captivating way for the readers. Nonetheless, the events and points that provided by Wikipedia are also very broad. The general impression that I gained, from Wikipedia, that summarize who Sir Thomas Stamford Raffles was, was a hardworking, wise, fair, rational and both lucky and unfortunate person. When I read the passage, I generally felt that all he had done were good things. He was a very hardworking child, despite the early death of his father. He was lucky enough to be hired by East India Company and had the opportunity to expose himself to South East Asia, and based on his talent, picked up the native language, Malay, and good enough to impress the Governor to promote him as a Resident of Java at the age of 30. He abolished slave system, led an expedition to restore Borobudur, replaced Dutch forced agriculture system with land tenure, founded a more administrative Singapore and throughout the end, I elt sorry with his early death and his lost of family members. All the events are centralizing in the goodness of Sir Thomas Stamford Raffles. However, aren’t these very subjective opinions from a historical point of view? In the passage, it mentioned â€Å"considered Farquhar unfit for the position of Resident, so Raffles took direct control with a heavy hand. † The Wikipedia source didn’t really stated why William Farquhar was unfit for the position. Did he done something wrong that suffer the indigenous people? Did he make a lost in financial during his tenure? We may get some answer for these questions from how well the author think Singapore did as soon as the take over from British until the return of Raffles at year 1822 base on the paragraph â€Å"†¦as Singapore grew at an exponential rate, the Dutch gave up their claim on the island†¦Ã¢â‚¬  This in certain account created ambivalence from the author, and let just assume what both lines are true. Maybe the author is trying to tone down the confrontation between Farquhar and Raffles. By providing a reason for the discord, which reasonably present with a glim, it seems what Raffles did is reasonable. Besides that, under the â€Å"Founding of Singapore† session in the Wikipedia source, Farquhar was only credited for securing of British possession in the Riao’s area. This is by far had neglected his role in the founding of Singapore. The second source that I am going to examine is a website from USP, NUS. Once again, put aside verifiability and authorship. Let examine the passage’s point of view towards Raffles and the founding of Singapore. The passage gave a more general view of Raffles. At least at the first glance of the passage, I won’t have a feeling that he is almighty. Just take an example, â€Å"†¦Raffles became a subject of controversy and a target of attack, from British as well as Dutch adversaries. To some, Raffles was an admired reformer, who wanted to abolish the slave trade, and ameliorate the lot of the people. To others, he was simply a young and ambitious schemer. † This paragraph gives me a feeling that he is a controversial figure even during his time. The word â€Å"ambitious schemer† also reflects that he may not be as pure as a saint. All these that I have mentioned, didn’t come to me when I was reading the source from Wikipedia. With these, in certain account, there is a different in objectivity of the author of these two sources. Besides that, â€Å"it was Farquhar who worked alongside the Malay rulers for four years to secure the survival and growth of the British settlement on Singapore Island†¦Ã¢â‚¬  gives a general account on what Farquhar had contributed to the development of Singapore. This just gives me an impression of what Singapore was at that time, and it was definitely not the sole contribution and hard work of Raffles. The source did mention an outline of the life of Raffles. The author did give a high regards on Raffles effort to abolish slavery. This can be showed â€Å"He held strongly to moral principles on the dignity and equality of human beings † . Besides that, the source also mentions two important names in the founding of Singapore, William Farquhar and Dr John Crawfurd, and credited them as â€Å"The Founders of Colonial Singapore† . This source gives an alternative view of who were possible founders, or who had at least contributed to the radical founding of early Singapore. With these additional information provided, Raffles is not the only one credited with the establishment of early Singapore and thus gives a more objective view of early history of Singapore under British possession. The third source I’m going to examine is from suit101 . This passage gives a general overview of Raffles and his involvement in Singapore. This source is a summary of his early life, his career, and also how it links to the founding of Singapore. Compare to the first two sources, this source is comparatively less detailed information. For example, â€Å"Following the hallowed English tradition of divide and conquer, Raffles and his successors †¦Ã¢â‚¬  The source didn’t mention about who are the other successor. Is it Farquhar? Is it John Crawfurd? Or is it somebody else? This source gives a very subjective view towards Raffles, â€Å"Raffles continued to enjoy a long and celebrated career in imperial administration. † How does the author know the feelings of Raffles despite so many obstacles in his tenure as stated in the first and second source? Before I choose one of these sources to be an appropriate source for scholarly historical research, let me examine the authorship of these three sources. The source from Wikipedia, apparently is edited by not a few but a lot of authors. Just a brief view in the â€Å"history† link in the wikipedia webpage toolbar, there is approximate 500 entries of editorial in the Stamford Raffles site and still counting. In some account, base on the large amount of authors, contradictory may occur and there maybe a more objective viewpoint regarding the topic, â€Å"†¦emergence of resonance will only come after experiencing some dissonance. However, this is not an appropriate source for scholarly historical research mainly because of its multi-authorship and anonymous authorship. How can we verify the source when there are anonymous authors? Meanwhile, the second source from USP weblink, was the work of an associate professor in the History Department of NUS. The author is highly qual ified and contactable. Finally, the last source, it was also from a single author, John Walsh from Mahidol University International College. In terms of verifiability, the second and third source provides a direct contact name and title to verify the content or for further research. However for the first source, Wikipedia, if the readers have any doubt of the source, they have little chance to clarify with the author. There is no direct contact number and there is little chance of knowing the name, beside username of the author or even anonymous authorship. However as an ordinary user, we can raise the mistakes in the content to the webmaster, rise in discussion or edit the page. Finally, regarding citation, both sources from Wikipedia and John Walsh didn’t provide any; presumably every word is directly from the author. Source from the USP and Wikipedia, did provide references. In certain extend, this provides the readers a way for further research of the topic. This helps the reader to verify the points and facts in the source too. In Wikipedia, the â€Å"general look† is more appealing, with pictures of Stamford Raffles and well credit where the picture’s origin. The more user appealing part of Wikipedia is its usage of Wiki software to develop its webpage, and this may be a good start for newbies and for background reading â€Å"†¦wikis should not take authoritative, but can relied upon for ‘background reading’. After assessing the qualities of these websites, source from the USP website regarding Stamford Raffles and founding of Singapore is an appropriate source for scholarly historical research. This is due to its authorship; it provides a name and a title from the author, and it ensures verifiability. The publishing body, which is the NUS website, is a well ma intained and contactable publishing body. The details provided in the source are sufficient for a person to understand Stamford Raffles and the founding of Singapore reasonably well. It also provides other possible founders or contributors to the founding of Singapore. As a conclusion, it has all the attributes of an appropriate source for scholarly historical research. Bibliography Elizabeth E. Kirk, â€Å"Evaluating Information Found on the Internet†, Sheridan Libraries (1996), 8 February 2008, library. jhu. edu/researchhelp/general/evaluating/ â€Å"Stamford Raffles†, Wikipedia, The Free Encyclopedia. Wikimedia Foundation, Inc. (10 Aug. 2004), 17 February 2008, http://en. wikipedia. org/wiki/Stamford_Raffles Ernest C. T. Chew. The Founders of Colonial Singapore†, USP (12 October 2002), 17 February 2008, usp. nus. edu. sg/post/singapore/history/chew/founders. html John Walsh, â€Å"Raffles: Sir Stamford Raffles and the Founding of Singapore. † Suit101 (9 Jan 2004). 8 February 2008, suite101. com/article. cfm/east_asian_history/105792/1 Alvin Tan Peng Hong, â€Å"Allowing Dissonance†, The History Journal (1998), p. 14 Lesl ie Goh, â€Å"Share your knowledge or ignorance†, Straits Times (17 October 2006), 7 March 2007, http://news. independent. co. uk/world/americas/article2331980. ece Stephen Foley, â€Å"Wikipedia Hits An Identity Crisis As Student Admits Posing As Professor†, 2007 Independent News And Media Limited (7 March 2007) Noam Cohen, â€Å"A History Department Bans Citing Wikipedia As Research Source†, The New York Times (21 February 2007), 2 March 2007, nytimes. com/2007/02/21/ education/21wikipedia Marshall Poe, â€Å"The Hive†, The Atlantic Monthly (September 2006), 6 January 2007, theatlantic. com/doc/print/200609/wikipedia Stacy Schiff, â€Å"Can Wikipedia Conquer Experts†, The New Yorker (24 July 2006), 31 July 2006, newyorker. com/printables/fact/060731fa_fact

Question and Case Analysis Assignment Example | Topics and Well Written Essays - 1000 words

Question and Case Analysis - Assignment Example ing Aoki is manufacturing to China, Mexico, or Eastern Europe, the company must first carry out thorough scanning to understand the political and economic laws in these countries. China has religious law, which may not affect Aoki firm greatly in its operations. China and Mexico do have a mixed economy where both government intervention and market mechanisms operate. The Chinese government encourages foreign investors as compared to Mexico and Eastern Europe states. In Mexico, businesses are marred with violence thus discouraging investments. Nonetheless, there is socialism system of government in some parts of Eastern Europe such as Russia that controls all economic and political matters. Most of the businesses bribe to acquire important documents such as licenses and there are increased crimes and killings that involve seizing of individual businesses. Russia and some countries in Eastern Europe do not have a strong antipiracy law hence may weaken the business by manufacturing fake glasses as the ones manufactured by Aoki firm. Aoki Company should therefore consider manufacturing in China than in Mexico and Eastern Europe. Aoki’s decision to sell its products to Latin America and Europe is welcomed due to political stability in these regions that comprises deeper application of civil law. There are also good quality infrastructures such as communication that may help in doing business. Furthermore, market forces are left to control trade hence democracy in trade and economic freedom. Aoki will be able to make economic decisions to facilitate its operations thus maximizing its profits. According to the American corporation policy, Aoki will repatriate a given percentage of its taxable profit to the home country. Emerging markets have a large number of middle class that provide a good market for commodities in their countries. The middle-income earners have enough disposable income that enable them purchase electronics. The ability to purchase electronics

What Honda has to offer Essay Example | Topics and Well Written Essays - 250 words

What Honda has to offer - Essay Example Honda therefore presents itself as a corporation which is founded upon the solid values of delivering high quality and efficient design cars besides portraying itself as an organization which shows its concerns about preserving the environment. This therefore allows Honda to become attractive especially to such audience which considers its ethical consumers and base their buying decisions on the basis of an organization’s environmental protection records. In order to compete with established firms in aircraft industry, Honda needs to rely more on its legacy and market its past successes in terms of bringing in high quality and efficient design car technology. Further, Honda also needs to ensure that it pitches its message to the audience which is its tested market. Honda has been more successful in markets other than US or Europe therefore in order to compete with these firms, it is critical that Honda must adapt to the regional marketing targeted specially at Asian